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Baytex Energy Corp (BTE) Analysis & Forecast for 2024

Baytex Energy Corp (NYSE: BTE) is 11.75% higher on its value in year-to-date trading and has touched a low of $2.89 and a high of $4.65 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BTE stock was last observed hovering at around $3.63 in the last trading session, with the day’s gains setting it 0.08%.

Currently trading at $3.71, the stock is 11.09% and 14.13% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 10.69 million and changing 2.20% at the moment leaves the stock 1.59% off its SMA200. BTE registered -0.54% loss for a year compared to 6-month loss of -13.92%. The firm has a 50-day simple moving average (SMA 50) of $1.43 and a 200-day simple moving average (SMA200) of $6.99.

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The stock witnessed a 16.30% gain in the last 1 month and extending the period to 3 months gives it a 12.42%, and is 6.61% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.90% over the week and 3.59% over the month.

Baytex Energy Corp (BTE) has around 367 employees, a market worth around $3.05B and $2.01B in sales. Fwd P/E is 8.31. Profit margin for the company is -8.33%. Distance from 52-week low is 28.37% and -20.22% from its 52-week high. The company has generated returns on investments over the last 12 months (-3.53%).

Baytex Energy Corp quarterly earnings per share for the current quarter are estimated at $0.06 with sales reaching $664.45M over the same period.The EPS is expected to grow by 306.95% this year, but quarterly earnings will post -10.80% year-over-year. Quarterly sales are estimated to grow 58.00% in year-over-year returns.

Baytex Energy Corp (BTE) Top Institutional Holders

247 institutions hold shares in Baytex Energy Corp (BTE), with institutional investors hold 36.94% of the company’s shares. The shares outstanding are 821.68M, and float is at 715.11M with Short Float at 2.03%. Institutions hold 36.63% of the Float.

The top institutional shareholder in the company is Ninepoint Partners LP with over 40.0 million shares valued at $130.4 million. The investor’s holdings represent 4.73% of the BTE Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 24.25 million shares valued at $79.05 million to account for 2.87% of the shares outstanding. The other top investors are Jane Street Group, LLC which holds 8.21 million shares representing 0.97% and valued at over $26.77 million, while SIR Capital Management, L.P. holds 0.87% of the shares totaling 7.37 million with a market value of $24.03 million.

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